| Abstract: | Houses in inner-city areas, because of their age, suffer the depredations of functional obsolescence and decay. Some, however, have sound locations and are able to assemble economic forces that precipitate rehabilitation by both renters and owners. Accompanying restoration is a concomitant increase in market value and in population density, the corollary of which is a reduction in lot size. This process is modeled by graphically synthesizing elements of location theory, urban growth theory, and principles of economics. |
